Marcos orders SEC, gov’t agencies to implement CMEPA
President Ferdinand Marcos Jr. and Philippine Stock Exchange (PSE) chair Jose Pardo lead the special bell-ringing ceremony at the PSE headquarters in Taguig City on July 1, 2025, when RA 12214, or the Capital Markets Efficiency Promotion Act or CMEPA, takes effect. SCREENSHOTS from livestream of RTVM, PTV
Also present are Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go, Finance Secretary Ralph Recto, Senator Sherwin Gatchalian, PSE president and CEO Ramon Monzon and PSE’s board of directors. SCREENSHOTS from livestream of RTVM, PTV
MANILA, Philippines – President Marcos has ordered the Securities and Exchange Commission (SEC) and other relevant agencies to implement Republic Act No. 12214, or the Capital Markets Efficiency Promotion Act (CMEPA), to persuade more Filipinos to invest in the stock market.
“Let us make it our mission to ensure that every Filipino will feel the full benefits of this law without delay,” the President said in his speech.
“To ensure the successful implementation of this reform, I direct the Securities and Exchange Commission to streamline its procedures, remove bureaucratic bottlenecks, [and] reduce transaction costs within its control. Undertake the necessary changes to fulfill your responsibilities in these changing times,” he added.
Marcos led the ringing of the bell to open the trading day at the PSE headquarters in Bonifacio Global City, Taguig City on Tuesday, which also marks the first day of the effectivity of CMEPA.
President Marcos also urged all market participants and stakeholders to uphold transparency, fairness, and good governance.
“By working together in good faith, we can build an industry that earns the market’s trust both here and abroad,” he said.
On May 30, Marcos signed CMEPA, which aims to boost the local capital markets by rationalizing tax rates, simplifying tax compliance and reducing the market entry barriers for investors.
READ: More vibrant capital market seen with new CMEPA legislation
Among the provisions of CMEPA is the reduction of the stock transaction tax (STT) to 0.1 percent from the previous 0.6 percent, which was the highest in Southeast Asia.
It also expanded the scope of the STT to include other securities listed and traded through the local stock exchange.
The law also removed the documentary stamp tax on mutual funds and unit investment trust funds—investment tools widely used by young professionals and middle-class savers.
The adjustment lowers barriers and opens the market to more investors, the President said.
According to Marcos, from 2025 to 2030, CMEPA is projected to generate over P25 billion in revenues, which can help fund the building of roads, bridges, hospitals, schools, and other social safety net programs.
“But beyond revenue, CMEPA reinforces confidence. It shows that our financial system is becoming more equitable and structured for long-term stability,” he said.
“So, let me be clear: The reform is not just for the well-off and for the professionals, for the stock traders. It is for every Filipino who dreams of better financial security,” the President added./tad
WATCH: President Ferdinand Marcos Jr. and PSE chair Jose Pardo lead the special opening bell-ringing program at the PSE today, when RA 12214, or the Capital Markets Efficiency Promotion Act or CMEPA, takes effect.
Among the provisions of CMEPA are the outright reduction of the… pic.twitter.com/BZx6pAKDDE
— Inquirer (@inquirerdotnet) July 1, 2025
